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Thursday, October 21, 2021

Maersk rides freight wave with further 2021 outlook rise

COPENHAGEN, Sept 16 — Danish delivery group A.P. Moller-Maersk lifted its 2021 outlook once more right now, driving the rise in freight charges which has resulted from a congested international provide chain.

The coronavirus pandemic has prompted shortages of container ships and logjams at ports at a time of excessive shopper spending, sending the price of transporting freight to report ranges.

“The sturdy result’s pushed by the continuation of the distinctive market scenario inside Ocean, which have led to further will increase in each long- and short-term container freight charges,” Maersk mentioned in an announcement.

Maersk, which handles one in 5 containers shipped worldwide, now expects full-year underlying earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) of US$22 to 23 billion (RM91 to RM95 billion), up from a earlier estimate of US$18-19.5 billion.

The delivery firm, which is ready to publish full third-quarter earnings on November 2, additionally reported preliminary earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) of near US$7 billion and EBIT of almost US$6 billion. — eNM

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